Charles Cohen

One of the most coveted office assets in the West Hollywood submarket recently gained a brand new tenant and re-signed an existing one. The owner, developer and manager of Pacific Design Center Charles S. Cohen, has announced that two leasing contracts have been signed at one of the property’s three buildings. The tenant that has re-committed to its presence at the Pacific Design Center’s Green Building is Visit West Hollywood, the official visitor-marketing center for the City of West Los Angeles. The new resident at the building is Westside Affiliated Holdings, Inc., a local-based homebuilder, has announced that it is moving operations from its old Beverly Hills location.

Grace Winters and Jordan Tessier of Manatt, Phelps & Phillips explain a new California Supreme Court ruling that set a legal precedent for transfers of interests in a property-owning entity and the liability of such transactions for the state's documentary transfer tax.